Tenant-Stabilized Warehouse Acquired for $48M Along Route 2 in Central MA

The Seyon Group (“Seyon”) announced it has acquired 580 Fort Pond Road in Lancaster, Massachusetts (the “Property”). The Property is a Class A warehouse located directly off Route 2, fewer than 40 miles northwest of downtown Boston and 9 miles from I-495, offering efficient access to major distribution corridors in the surrounding areas. Additionally, the Property provides convenient access to both the Worcester area and Massachusetts Turnpike via I-190.

Built in 1994, 580 Fort Pond Road is a 275,620 square foot warehouse that is currently 100% leased to a single tenant. The physical specs include 34’ clear heights, 26 loading docks, 1 drive in door, and 200 parking spaces. The building sits on 50 acres, offering an expansion opportunity. The Property is located within Boston’s I-495 / Rt. 2 West submarket, a 20 million SF submarket that boasted a 0.6% vacancy rate as of June 30, 2022 (according to CBRE). This transaction closed on November 30th and marked a rare opportunity to acquire a Class A warehouse in a desirable location north of Boston.

“580 Fort Pond represents Seyon’s latest acquisition of a Class A warehouse in greater Boston and allows us to meaningfully expand the existing footprint of the current building. We are thrilled to add UN1F1ED² Global Packaging Group to our growing roster of best-in-class tenants and we look forward to expanding our relationship with the Rand-Whitney team,” shared Andrew Iglowski, Managing Partner at Seyon.

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